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Parent Loans Or Student Loans – What Is Going To Be Best For My Child?

Parent Loans or Student Loans – what is going to be best for my child?At least 20% of college students need some type of loan to help pay for their college education. Such a statistic can lead to students graduating with anunmanageable debt load. An alternative is for parents to help out by taking out loans themselves. But which is the better option – student loans or parent loans? Each has distinct advantages and uses.Federal student loansFederal student loans have the lowest interest rates and best repayment options. If you need to take out loans and you qualify for federal loans, this is your best choice. Just be sure to accept only the funds you need, even if you are offered much more. Parents can always help their children pay off these loans once repayment begins after graduation.Federal parent loansPLUS Loans (Parent Loan for Undergraduate Students) are another loan option that comes with low interest rates. If you are a parent with dependent students attending college at least ...
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Student Credit Repair Solutions For Building Credit

By Jonathan Cheong, There are solutions for students to repair their credit. Believeit or not but it is possible to get out of a student loanobligation. First you must determine what type of student loanyou owe. Once you come to this determination you will next needto contact the proper sources and ask them to terminate yourloan. If you can't repay the student loan this is the best option,since you are at risk of a law suit, garnishing of wages, orloss of tax refunds. t depends on the time when you took out the loan and what typeof loan you are under obligation to repay, but for the most partyou can call and ask for a cancellation. If your school isnegligence and has issued you a loan under false pretense, youmay be able to cancel your loan. Also, if you are disable and see that you can no longer work,your may be eligible for a cancel of payment. If you are in themilitary, of a full-time member in certain organizations you maybe able to cancel your loans. Also, if you have paid you...
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How to Save Money on Student Loans

By: Glen Orenstein There are a few ways in which you can maximize your student loan in order to save money. By using some simple techniques when looking for and closing on your loan, you can save a ton of money. One of the most popular options for saving money on your student loans is through consolidation, but that isn't the only way. There are other tips that can help you, as well. It is important to remember that the interest rate in your student loan is subject to change at the beginning of each July. Though student loans are usually pretty low and the rates are fairly stable, there is room for flocculation should the market present that scenario. If you have a low rate now, you can consolidate your student loans in order to lock in that rate. Over the last few years, people have found success paying for their loan using automatic repayment. This way, you will be sure that the loans are paid on time. When your loans are paid on time, you will avoid the costly penalties that are...
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Student School Consolidation Loan Information

By: Shelley Enfesta The existences of these consolidate debt loans programs were brought about by the growing number of people having the difficulty of managing their financial obligations. Because of students that are having trouble with their school financial obligations, debt consolidation companies came into existence. They serve as medium or an option on how to deal with the students woes. These types of programs help ease the students multiple monthly bill payments. For most students, they resort to these programs of repaying their financial obligations. To start, make a list of all your loans, the names of your lenders, the interest rates on each of you loans and debts, the amounts you owe on each of those debts and loans, and the amounts of your monthly payments on each of you loans. If you make this list in such a way that it is formatted for you to easily see those numbers/amounts, you can readily determine how much you are paying monthly at the moment. By now you should be a...
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Finding the Best Private Student Loan

Students who do not meet federal requirements for financial need can use the route of a private student loan. Apply for a private loan is free. The loan is based on the student's creditworthiness and not the need for aid as does the federal loans. Many lenders offer private student loans to students or their parents and the application process is simple and free. The loan requirements are usually less stringent and the repayment options are affordable for young professionals. A private student loan is a great way to finance the education of any student that needs financial help. Below you will find things that you should know and things you should consider. Things You Should Know: 1. Student loans can be used not only to pay the fees but also for lab fees, dues for associations and housing. 2. A student can have an educational loan even though the tuition is covered by a grant. 3. A student who is eighteen years or above in age, can apply for a student loan. 4. Most of the student ...
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Refinance Your Student Loans

by: Sarah Russell f you’ve recently graduated from college, you’ve probably been bombarded with mailings and advertisements urging you to refinance (or consolidate) your student loans right away. But wait, what is loan consolidation? And why should you do it? If you’ve just graduated from college, you’ve probably got a number of different student loans, all in different amounts from different lenders at different interest rates. Loan consolidators (which can be private banks, lenders or government agencies) pay off all your individual loans in exchange for a single loan in the same amount issued to you. So now instead of all those different loans, you’ve got one loan that you repay to the consolidator. Refinancing your student loans reduces your monthly payments and locks in a fixed interest rate. In most cases, student loans have variable interest rates set a few points below prime. As interest rates go up, so will the interest rate on your loans. When you refinance your loans, you lo...
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